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Fintech News from the Middle East and North Africa (MENA)

As Finovate prepares for its first conference in the Middle East, here’s a round up of recent fintech news and need-to-knows from the MENA region. Learn more about how to join us in Dubai in February for FinovateMiddleEast.

  • Al Baraka Banking Group partners with Path Solutions to deploy iMAL Islamic core banking system.
  • UAE Exchange to launch gocash card and mobile app courtesy of partnership with online travel firm, Cleartrip
  • Thomson Reuters celebrates 150 years in the Middle East and North Africa at event in Egypt

MENA Fintech Fact In the Middle East and North Africa, nearly three out of every four fintech startups are based in four countries: the UAE, Egypt, Jordan, or Lebanon. Half of all MENA fintechs launched after 2012.

  • Online real estate marketplace and KPMG Global Fintech Top 50 member Wealth Migrate opens office in UAE, announces new country CEO, Lee-Ann Rush.
  • Group Chairman and CEO of Path Solutions, Mohammed Kateeb, named to World’s Top 50 Most Influential Leaders in Islamic Economy for third consecutive year.

Thought Leadership  Fintech is the new oil in the Middle East and North Africa – Forbes looks at how regulators and governments in the MENA region are “thinking more deeply about the impact that fintech companies will have on the broader economy.”

  • Entrepreneur Middle East features investor forecasts for the MENA region in 2018.
  • Alrajih Islamic Bank for Investment and Financing chooses Islamic core banking system iMAL from Path Solutions.
  • Al Baraka Banking Group (ABG), Kuwait Finance House-Bahrain (KFH-B), and Bahrain Development Bank (BDB) form fintech consortium, Algo Bahrain, to build Sharia-compliant banking solutions.